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YouTube’s hold on long videos to be broken; Zuckerberg’s making it happen on Instagram

Facebook owned social network, Instagram launched a mobile app on Wednesday called IGTV dedicated to user-generated videos up to an hour long, intensifying the competition for consumers’ time among ad-supported streaming services such as YouTube

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Facebook owned social network, Instagram launched a mobile app on Wednesday called IGTV dedicated to user-generated videos up to an hour long, intensifying the competition for consumers’ time among ad-supported streaming services such as YouTube.

The service plans to feature videos from rising internet celebrities, artists and pets, some of whom have tens of millions of social media followers.

“Teens are now watching 40 percent less TV than they did five years ago,” Instagram Chief Executive Kevin Systrom said at an event to announce the launch in San Francisco.

“It’s time for video to move forward and evolve.”

Facebook shares rose 2.3 percent on Wednesday to $202.06 after earlier crossing the $200 mark for the first time. Instagram, which was founded in 2010 as a photo-sharing app, has surpassed 1 billion users, Systrom said.
Tech firms such as Facebook, Alphabet Inc’s YouTube and Snap Inc’s Snapchat have been spending heavily to grow mobile video services that will attract both users and corporate brand advertising.

Courting stars to post videos is part of their strategies. Instagram said it has signed up personalities such as Lele Pons, who has 25 million Instagram followers, for IGTV.

Pons said she did not plan to choose sides between two of Silicon Valley’s largest companies. “I’m still going to be posting on YouTube as well as on Instagram,” she told reporters.

Facebook on Tuesday launched a separate effort to lure video makers away from YouTube, offering ways to make money on the Facebook app. YouTube said it plans to update its commercialization options this week.

Instagram does not immediately plan to share revenue with video creators but may in the future, Systrom said. IGTV will be available as part of Instagram’s app and as a separate app, he said.

Instagram, which Facebook bought in 2012 for $1 billion, has grown by adding features like messaging and short videos. In 2016, it added the ability to post slideshows that disappear in 24 hours, a copy of Snapchat’s popular “stories” feature.

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Tigo partners with Selcom, Mastercard, to launch online digital payment solution in Tanzania

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Tanzania’s virtual payment platform, Tigo Tanzania, has entered into a strategic partnership with Selcom and Mastercard to launch an online digital payment solution system in the country.

The three industry leaders, according to the terms of the partnership, will see them revolutionize the digital payment ecosystem in the eastern African country by enabling convenient online payments globally through the Tigo Mastercard virtual service via the Selcom’s card-as-a-service (CaaS) platform.

The virtual card allows for Tigo consumers to easily make payments at any online purchase point where Mastercard is accepted without the need for a bank account or credit card.

Tigo’s Chief Officer for Mobile Financial Services (MFS) Angelica Pesha, who made the announcement on Friday, said the launch of the virtual card will ensure Tigo’s ability to provide its customers access to products and services previously a preserve of physical credit card holders while diversifying its mobile money portfolio.

”As the leading digital lifestyle company in Tanzania, we are always on the look out for such partnerships as our customers will now be able to complete online transactions that requires Mastercard credentials, while using funds from their Tigo Pesa wallets,” she said.

“It also means that this service will allow customers to quickly and conveniently pay for goods and services in the international market.”

“Additionally, the partnership will result in a wide range of cutting-edge digital payment solutions being introduced in Tanzania and connect Tigo customers in Tanzania to a global online market place across multiple digital payment use cases and provide access to Mastercard’s global network of merchants,” Pesha said.

Selcom’s Executive Director, Sameer Hirji, who also expressed his enthusiasm for what he calls a groundbreaking collaboration, said:

“At Selcom, we take pride in our unwavering commitment to innovation and excellence in the payment industry. We are thrilled to join forces with esteemed partners like Tigo Pesa and Mastercard to unveil our state-of-the-art mobile money wallet-linked virtual card.”

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Kenyan insurtech startup, Turaco, partners Airtel Money to launch low-cost hospital insurance product in Uganda

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Kenyan insurtech startup,
Turaco, has entered into a partnership with Airtel Mobile Money and Prudential Assurance Uganda, to launch a low-cost hospital cash insurance product.

Known as “Hospital Sente,” the product, according to Airtel Mobile Commerce Managing Director, Japheth Aritho, is aimed at “increasing access to insurance for underserved communities, and low-income individuals and families.”

Hospital Sente offers beneficiaries a cash pay-out if they are hospitalized as it is designed to provide affordable coverage for unserved individuals and families conveniently through Airtel’s Mobile money platform,” Aritho said in a statement on Thursday.

“We are excited to partner with Prudential Uganda to offer this innovative and affordable insurance product to our customers.”

“We believe that this partnership will help increase access to insurance for low-income households and help protect families against unexpected events,” Aritho said.

General Manager of Turaco,
Hamza Mutebi, in his statement, said:

“Most Ugandans today remain unreached by mainstream insurance, all while being the most vulnerable to financial shocks caused by illness, accidents and death.

“Strategic partnerships like these remain critical to enabling underserved Ugandans access to affordable insurance that provides a safety net in their times of need and ultimately peace of mind.”

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